A Huge Bet on Bank of America

In a volatile market that lacks conviction, a big player is making a wager on the bank's stock.

The options market has just placed a giant question mark on Bank of America's (ticker: BAC) stock. Friday will tell if it becomes an exclamation mark for the bulls or bears.

So far, all that we know is that an investor bought 50,000 January $11 puts for 45 cents in three different trades early in the session when the stock was between $12.86 and $12.89. The stock was recently at $12.91.